No changed in our view, EURUSD is forming a triangle pattern on daily chart, and the price action from 1.2329 is treated as consolidation of the long term down trend. Deeper decline is expected to 1.2000 zone after consolidation, and a break below 1.2329 previous low support will confirm such case.
For long term analysis, EURUSD remains in long term down trend. Deeper decline to 1.2000 zone to reach the next cycle bottom on weekly chart is still possible.
